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0 Union Bank of India signed a Memorandum of Understanding with Indian Navy for Salary Accounts of their employees’ including Agniveers on 30 January 2023.
The Memorandum of Understanding (MoU) was signed at integrated headquarters, Ministry of Defence (NAVY), New Delhi in the presence of Shri R K Jaglan, General Manager, GBRD, Union Bank of India and Commodore Sundeep K Verma, CMDE (P&A) and CDR Mohit Kabra.
The Salary Account has been tailor-made for Indian Armed Forces with a slew of special features like Free Personal Accidental Insurance of upto Rs 62 lacs, Free Air Accidental Insurance Coverage of upto Rs 1 Crore, Concessional Interest Rates for various types of Retail loans, Unlimited ATM withdrawals without any charges from any ATM etc., apart from other basic features.